Larry Romero

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Reduced to a one-day sale, the Fasig-Tipton Texas summer yearling auction posted a gross that was down significantly Aug. 31 at Lone Star Park. Under last year's two-day format, 443 horses were cataloged, but only 319 were offered this year, contributing to a 43.9% decline in the gross, from $3,369,700 to $1,889,400. The buy-back rate rose from 36.6% in 2008 to 42%, with only 185 head selling. While the median increased to $5,000 from $4,500, the average dipped from $11,992 to $10,213, a 14.8% decline.